Charles Schwab Investment Management Inc. Has $31.03 Million Stock Holdings in Olin Corporation $OLN

Charles Schwab Investment Management Inc. lifted its holdings in Olin Corporation (NYSE:OLN) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,489,506 shares of the specialty chemicals company’s stock after buying an additional 125,363 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Olin were worth $31,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Advocates LLC acquired a new stake in shares of Olin in the third quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin in the first quarter worth $32,000. Bessemer Group Inc. boosted its position in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 1,176 shares during the period. Allworth Financial LP boosted its position in shares of Olin by 114.0% in the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 927 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Olin by 45.0% in the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 721 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insiders Place Their Bets

In other Olin news, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the transaction, the vice president directly owned 1,528 shares in the company, valued at $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Olin Price Performance

Shares of NYSE:OLN opened at $26.78 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Olin Corporation has a 1 year low of $18.08 and a 1 year high of $30.46. The business has a fifty day simple moving average of $27.15 and a 200 day simple moving average of $23.85. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -23.91 and a beta of 1.21.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, May 14th. Olin’s dividend payout ratio (DPR) is -71.43%.

Analyst Ratings Changes

Several analysts recently issued reports on OLN shares. BMO Capital Markets cut their price objective on Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday, February 3rd. KeyCorp cut their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. UBS Group increased their price objective on Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup increased their price objective on Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Finally, Mizuho increased their price objective on Olin from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.79.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.